Analysis: European stocks lure global investors as rate hikes hurt U.S. more

[1/2] A sign is seen on Wall Street near the New York Stock Exchange June 15, 2012. REUTERS/Eric Thayer Feb 27 (Reuters) – Global equity investors are finding financials-heavy European markets more alluring than their U.S. counterparts packed with expensive technology stocks in their rush for better returns amid growing signs of interest rates staying higher for longer. Banks (.SX7P) accounted for nearly 16% of the STOXX 600 index (.STOXX) and have benefited from the high-rate environment, gaining nearly 20% to hit their highest in almost five years. In contrast, 35% of the S&P 500 (.SPX), the world’s largest index…